Tesla’s (NASDAQ:TSLA) Q3 2024 earnings name comes on the heels of the corporate’s This fall and FY 2024 Replace Letter, which was launched after the closing bell on January 29, 2025.
Tesla’s This fall 2024 outcomes:
- Earnings Per Share (GAAP): $0.66 per share
- Earnings Per Share (Non-GAAP): $0.73 per share
- Working Revenue: $7.1 billion GAAP; $7.1 billion GAAP internet earnings in 2024; $2.3 billion in This fall together with $0.6 billion mark-to-market achieve on digital belongings.
- Whole Revenues: $25.7 billion
- Whole Automotive Revenues: $19.80 billion
This fall & FY 2024 Earnings Name at 4:30pm CT as we speak https://t.co/uFCg69a6tN
— Tesla (@Tesla) January 29, 2025
The next are reside updates from Tesla’s This fall and FY 2024 earnings name. I can be updating this text in real-time, so please preserve refreshing the web page to view the newest updates on this story. The primary entry begins on the backside of the web page.
17:41 CT – And that closes Tesla’s This fall and FY 2024 earnings name! Thanks a lot for becoming a member of us, and see you subsequent quarter!
17:40 CT – Dan Levy of Barclays asks about Trump’s anti-EV mandate and Elon Musk’s view on it. The CEO famous that at this level, sustainable transport is inevitable. “At this level I believe sustainable transport is inevitable. You may’t cease the appearance of electrical vehicles. It’s gonna occur. The one factor holding again electrical vehicles is vary, and that could be a solved drawback,” Musk stated.
17:37 CT – Pierre Ferragu of New Road Analysis requested about Tesla’s plans to deploy robotaxis on June. He wonders if he can drive all the way down to Texas in June to check it. Musk stated positive, and on the time, Tesla could be utilizing its personal fleet for its preliminary autonomous ride-hailing program. Vehicles received’t be from particular person homeowners.
Musk additionally predicts that Tesla homeowners will have the ability to add automotive their vehicles to the robotaxi fleet by subsequent 12 months.
Tesla can be working towards FSD Unsupervised which is able to enable individuals to examine their emails, texts, and so forth., whereas the automobile is in movement, however the firm could be very cautious. Tesla has seen that persons are turning off FSD Unsupervised to examine their texts.
17:30 CT – Adam Jonas of Morgan Stanley requested if Elon Musk nonetheless doesn’t consider in Lidar. Elon Musk says he nonetheless doesn’t. “Clearly, people drive with out taking pictures lasers out of their eyes,” Musk joked. He additionally defined that he’s not anti-Lidar per se. He’s simply anti-Lidar in the case of autonomous vehicles.
17:25 CT – As for FSD in China, Musk famous that coaching movies in China can’t be exported out. Tesla determining methods to prepare FSD Unsupervised in China. One of many challenges is bus lanes, that are very advanced in China.
“Hopefully, we are able to have Unsupervised FSD in different nations subsequent 12 months,” Musk stated.
17:18 CT – Analyst questions begin with Bernstein. He asks Elon Musk about what he’s doing to push Tesla’s administration staff to speed up the corporate’s packages. Musk famous that Tesla is engaged on perfecting real-world AI. “I spend lots of time with the Tesla AI staff and the Tesla Optimus staff,” he stated.
Musk famous that there are various challenges with Optimus and automobile autonomy, however the items are there. He predicts Europe can be a problem for FSD Unsupervised. FSD Unsupervised is anticipated to be introduced to the EU within the Netherlands in Could, with a launch most likely subsequent 12 months.
17:15 CT – A query about HW3 autos was requested. Tesla famous that the corporate is just not giving up on HW3. Tesla remains to be engaged on HW3 however updates will path HW4 releases.
“We’re going to should improve {Hardware} 3 for individuals who purchased FSD. That’s the trustworthy reply. It’s going to be painful and troublesome however that’s what we’re going to should do,” Musk admitted.
One other query was requested if Tesla has given up on Photo voltaic Roof. Tesla famous that it has not. Musk famous that Tesla has discovered progress by distributing Photo voltaic Roof to the roofing business.
17:14 CT – One other query is requested, this time concerning the Tesla Semi and the way it will have an effect on income and scale. Tesla famous that preparations for manufacturing are ongoing, and that manufacturing is anticipated to start out late this 12 months from Reno. He additionally thinks the Semi can be extremely priceless with FSD Unsupervised.
Musk famous that the US really has a scarcity of truck drivers. And truck drivers are human, in order that they get drained. “I’ve lots of respect for truck drivers, as a result of it’s a troublesome job,” Musk stated.
He famous that extra persons are leaving trucking than these coming into it. With this in thoughts, autonomy is extraordinarily necessary. “It’s a a number of billion-a-year alternative,” Musk stated. That stated, the CEO additionally famous that “all of that is gonna pale compared to Optimus.”
17:10 CT – Musk reiterated that Optimus can be used at Tesla factories first, doing tedious duties that nobody desires to do.
Optimus manufacturing Model 2–perhaps beginning mid-next 12 months–can be designed for 10,000 models a month vs 1,000 models a month. Model 3 is for 100,000 models per thirty days, and with Model 2, Optimus robots could also be delivered to different corporations.
“Demand won’t be an issue, even at a excessive value,” Musk stated. He additionally famous that at a million models per 12 months, Optimus’ manufacturing prices can be round or lower than $20,000.
17:04 CT – One other investor query requested if Optimus is designed locked. Musk famous that Optimus is just not design-locked in any respect. Nevertheless, the CEO famous that “it’s quickly evolving in a very good route.” Musk additionally famous that different corporations are lacking real-world AI and manufacturing capabilities.
17:03 CT – The following investor query requested if different carmakers are concerned with licensing FSD. Elon Musk confirmed that sure, they’re. “What we’re seeing is at this level is important curiosity in licensing FSD,” the CEO famous. However earlier than FSD is licensed, Tesla has to succeed in unsupervised FSD first.
17:01 CT – Investor questions start. The primary is about unsupervised FSD’s launch. Musk famous that he believes unsupervised FSD in California and Texas this 12 months, with many extra areas on the finish of 2025.
“We’re on the lookout for a security degree that’s considerably safer than a human driver,” Musk stated. “The one factor holding us again is an extra in warning,” Musk stated.
17:00 CT – The CFO famous that Tesla’s progress got here from Megapack and Powerwall. Each proceed to be production-constrained, which is able to hopefully be relieved by China, whose Shanghai Megafactory is producing Megapacks. Tariffs, nevertheless, are very probably, Tesla’s CFO famous.
16:58 CT – Tesla’s CFO takes the stage. He credit the Tesla staff for its efficiency in This fall. He additionally mentioned some milestones, resembling file deliveries within the Higher China market, which is extraordinarily aggressive.
Value discount continues as nicely, regardless of elevated depreciation and different prices as the corporate ready for the brand new Mannequin Y. General price per automotive now down beneath $35,000.
The brand new Mannequin Y can be produced in all factories supporting the automobile beginning subsequent month. That is unprecedented in Tesla historical past.
He notes that Tesla can be on monitor to launch a extra reasonably priced mannequin within the first half of 2025, and there can be extra fashions from there.
16:54 CT – Elon Musk predicts elevated demand in vitality enterprise. That stated, he does admit that Tesla at all times has to allocate its battery provide. “2025 is known as a pivotal 12 months for Tesla. It may be seen as crucial 12 months in Tesla historical past,” Musk stated.
16:50 CT – Elon, nevertheless, admitted that he’s making insane predictions. He cautions that his predictions aren’t essentially exact. That stated, the goal is to make 10,000 Optimus robots this 12 months. Elon is assured that Tesla can produce a couple of thousand this 12 months, with a aim to ramp Optimus manufacturing yearly.
Optimus’ capabilities are anticipated to be very spectacular. Musk notes that Optimus would have the ability to play the piano or thread a needle. That’s how exact its arms could be. “Optimus will have the ability to play the piano and have the ability to thread a needle,” Musk stated.
16:48 CT – Tesla expects to launch Unsupervised FSD as a service in Austin in June. Musk famous that Tesla’s unsupervised FSD system is already working very nicely within the firm’s factories.
“The vehicles aren’t simply driving to the identical spot. The vehicles are programmed to a lane” or a vacation spot parking spot for choose up from prospects. Teslas can be within the wild–with nobody in them–in Austin in June,” Musk stated.
16:45 CT – Musk famous that Tesla’s present constraints are battery packs for now. “Issues are going to ballistic subsequent 12 months…and ’27, and ’28,” he stated.
Musk additionally said that the coaching wants for the Optimus robotic is 10x what’s wanted for a automotive. A humanoid robotic, nevertheless, most likely has 1000 extra makes use of than a automotive.
“We reside at this unbelievable inflection level in historical past,” Musk stated.
16:40 CT – “I do know I’ve been known as the boy who cried wolf. I’m telling you, there’s a rattling wolf this time. It might probably drive you,” Musk joked, discussing FSD and his previous failed predictions about when unsupervised FSD can be prepared.
He additionally highlighted that whereas FSD behaved like a neophyte driver earlier than, it received’t be like that without end.
“The one people who find themselves skeptical are those that haven’t tried it (FSD),” he stated. He additionally highlighted the potential of the Tesla Community. “It really works advantageous within the US, and naturally, it would work simply nicely wherever else. The fact of autonomy is upon us,” Musk added.
16:38 CT – Elon takes the stage. He states that Tesla ended the 12 months with a run charge of two million vehicles per 12 months. The Mannequin Y was the world’s best-selling automotive once more in 2024. He shares an optimistic outlook on Tesla’s autonomy program.
“Autonomy is 10X-ing,” Musk stated, including that he nonetheless sees a path towards Tesla turning into the world’s most dear firm by a mile. “There’s a path to that,” he stated.
Musk famous that Tesla laid the groundwork for autonomous vehicles and robots in 2024, and these efforts will proceed in 2025. “It will arrange what I believe can be an epic 2026 and a ridiculously good 2027 and 2028,” Musk stated.
16:34 CT – Right here we go! Tesla’s IR declares that Tesla CEO Elon Musk and quite a few executives are current on the name.
16:30 CT – It’s time! It received’t be shocking if Tesla begins a bit late. That being stated, there’ll most likely be fairly quite a few attention-grabbing discussions on this name.
Only recently, Tesla posted the primary video of its FSD Unsupervised system working within the Fremont Manufacturing unit. That’s a really huge deal.
16:25 CT – Good day, and glad earnings day to everybody! Tesla missed a few of Wall Road’s expectations, however TSLA inventory appears to be doing fairly nicely in as we speak’s after-hours. It’s up about 2.3% as of writing.
As at all times, this may be a really attention-grabbing earnings name.
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